May 9, 2024 Singapore
EDXM Global (EDXMG), a fast-growing digital asset company for institutional customers, announced today the launch of its settlement platform. EDXM Global sets a new standard in the digital asset landscape, streamlining OTC transaction settlements with remarkable speed and reliability. Marking a significant milestone, industry giants GSR and Virtu Financial were the first firms to use the new platform for trade settlement.
The launch of EDXM Global comes after its parent, EDX Markets Holdings LLC (EDX), closed its Series B funding round late last year. Pantera Capital co-led the round with Sequoia Capital, a founding consortium member. Other founding members participating in the Series B include Citadel Securities, Fidelity Digital AssetsSM, and Virtu Financial.
Jamil Nazarali, CEO of EDX, commented, “The launch of EDXM Global is the first step in the international expansion of our digital asset business. We are thrilled to introduce our settlement service, built on cutting-edge technology, rigorous compliance, and an unwavering commitment to customer service. By mitigating counterparty risks, EDXM Global empowers our Members to navigate the complexities of trade settlement while reducing counterparty risks.”
Rich Rosenblum, Co-founder and President of GSR, said, “We are pleased to support the launch of EDXM Global. Being able to mitigate settlement risks for OTC transactions represents a significant advantage for us and our clients, and we are proud to align with a partner that mirrors our dedication to excellence and innovation.”
Douglas Cifu, CEO of Virtu Financial, said, “Virtu is excited to support another strategic innovation by the talented team at EDX. EDX continues to lead the way with solutions to efficiently mitigate counterparty risk and streamline settlement processes, further reducing risk and operational barriers to enable greater adoption of digital assets around the globe.”